July 2, 2016
Jerry Buckley will retire as chief executive officer of the Pennsylvania SPCA effective Aug. 1 and will be replaced by an interim CEO, the animal-welfare organization announced on Thursday. Buckley, 60, assumed the role in May 2012 after serving as a senior executive at Campbell Soup Co. Previous to that, he worked as a journalist at Newsweek and U.S. News & World Report. Julie Klim, a member of the PSPCA board of directors, will take over for Buckley on an interim basis. Klim has worked in biopharmaceuticals, private equity, and the non-profit sector.
June 9, 2016 |
Elemica Inc., a Wayne company founded in 2000 as an e-marketplace by eight major chemical manufacturers, is being sold to Thoma Bravo L.L.C., a San Francisco private-equity firm. The price for Elemica, which has evolved into broader supply-chain and logistics network, was not disclosed. Elemica employs 75 in Wayne and 200 worldwide, a spokeswoman said. email@example.com 215-854-4651 @InqBrubaker
February 20, 2016 |
Iron Hill Brewery & Restaurant is teaming with a Greenwich, Conn.-based private-equity firm to expand the brewpub's regional footprint, making it the latest Philadelphia-area food and beverage chain to get a boost from a deep-pocketed benefactor with a broad geographic scope. Iron Hill received the investment from A&M Capital Opportunities to support the Wilmington-based chain's expansion into new Mid-Atlantic markets, the companies said in a statement Thursday. The investment from AMCO puts Iron Hill on a footing with La Colombe Torrefaction Inc. coffee roasters and Honeygrow fast-casual eateries in tapping private investment to take a locally developed concept to broader markets.
October 17, 2015 |
Resmark Land and Housing of Los Angeles has become an equity partner in the redevelopment of South Philadelphia's Mount Sinai Hospital site into 95 townhomes, it said on Friday. The division of the Resmark Cos., a private equity firm, has formed a joint venture on the project with the Bethesda, Maryland-based Concordia Group and Philadelphia's D3 Developers. Sales at the project, called Southwark on Reed, will begin later this year, with first occupancies expected in spring. Resmark said last year that it was joining the Mignatti Cos. to develop housing for the Waterside mixed-use project on the banks of the Delaware River in Bensalem Township.
March 27, 2015 |
TRENTON - The new chairman of the board that oversees New Jersey's $77 billion pension fund for public employees warned Wednesday against a bill passed by the Legislature that would expand pay-to-play restrictions on the state's investments, saying it would force New Jersey to sell top-performing assets at "disadvantageous prices. " Those remarks came as the state moved ahead with a $100 million investment in a fund controlled by a private-equity firm whose cofounder donated $2.5 million in the last two years to a Republican committee with close ties to Gov. Christie.
July 1, 2014 |
The buyout industry (members prefer we call it "private equity") has an image problem. Americans tend to admire wealth, success, and investor rescues like Carlyle Group 's 2012 buyout of Sunoco 's aging Philadelphia refinery, followed by a taxpayer-assisted makeover that kept hundreds working. But it's less of a crowd-pleaser when billionaire buyout artists like NBA 76ers owner Joshua Harris and his partners, who control Caesars Entertainment Corp. , do crushing things like telling workers last week that they will shutter Atlantic City's Showboat casino-hotel, ending 2,000 jobs.
March 17, 2014 |
Why don't they just hire Vanguard ? The Pennsylvania State Employees' Retirement System thought some explaining was in order. PSERS needed $1.4 billion from state and local property taxpayers last year, and it expects to need $2.7 billion next year, it told legislators in February in its yearly report. That's after paying $552 million to hundreds of private investment firms - more than half the total for private equity, private debt, hedge, venture capital, commodity, and other investments you can't buy from a broker - to keep its assets from sliding farther below its liabilities.
January 10, 2014 |
Investing in private equity used to be reserved for the wealthy. Only millionaires who were "accredited" or "qualified" to invest the big bucks had money in private equity - essentially, the One Percenters. Then, some of Wall Street's biggest private equity firms went public, such as Blackstone Group L.P. (symbol: BX), Fortress (FIG) and Kohlberg Kravis & Roberts (KKR). (Bain Capital L.L.C. remains private, but gained fame when partner Mitt Romney ran as a presidential candidate.)
August 24, 2013 |
A Dallas, Texas, private-equity firm, Panda Power Funds, is acquiring Moxie Energy's planned Liberty Generating Station in Bradford County, Pa., billed as the first power plant developed to use natural gas from the Marcellus Shale formation. The 829-megawatt plant will produce enough power to supply 1 million homes. Panda will immediately start construction on the 33-acre site in Asylum Township and expects operations to begin by early 2016. The plant will contain twin combined-cycle Siemens gas turbines, manufactured in North Carolina.
July 24, 2013 |
Do you have an investment or a start-up business for which you'd like to raise money? Now, to that end, you can advertise your venture - legally - on Twitter and Facebook, on television, even at a sports event. Washington watchdogs have updated the Securities Act of 1933, the law that once barred American businesses from raising money by advertising private deals. The change was part of the Obama White House's proposed JOBS Act, meant to spur small business after the Great Recession.